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TFC Commodity Trading Forum

In Response To: Re: MF G ()

Received an email Sunday afternoon that positions were transfered to R.J.O'Brien. I liquidated my one sugar contract position this morning to just get flat. All the rest of the cash is frozen in a Trustee account (bankrucpty judge). Email said go to the site to see how to get your funds. Went to the site and did not see instructions. Called one of the numbers and they said did you file a claim. I said there is nothing on the site that gives instructions on filing a claim. She said maybe they have not posted it yet. Said you can write them and ask for a form. This does not sound good to me. Some of these drag on for a long time.

Last I read is they were missing 633 million of client money, and that is about 11-12%. One analysis said he never seen it happen for a clearing house to use client money. I am including a link that said for your positions they transfered only 75% of the maint margin, so everyone was subject to a margin call today! Looks like this will drag on.

Well that is the update. Might have been better to of had more postions that were transfered and they went flat today. At least I would of had more initial and maint margin transfered. Go figure. Now need to go thru a process to get as much of the cash balance back on my account.